Net Income Attributable to Company Per Share

9 Months Ended

Sep. 30, 2024

Net Income Attributable to Company Per Share

13. Net Income Attributable to Company Per Share

The following table sets forth the computation of weighted average basic and diluted shares outstanding (in millions, except per share data):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Numerator:
Net income attributable to Company	$	130	$	114	$	475	$	395
Denominator:
Basic—weighted average common shares outstanding		392		393		394		393
Dilutive effect of employee stock options and other unvested stock awards		3		3		3		3
Diluted outstanding shares		395		396		397		396

Net income attributable to Company per share:
Basic	$	0.33	$	0.29	$	1.21	$	1.01
Diluted	$	0.33	$	0.29	$	1.20	$	1.00

Cash dividends per share	$	0.075	$	0.05	$	0.20	$	0.15

Companies with unvested participating securities are required to utilize a two-class method for the computation of net income attributable to Company per share. The two-class method requires a portion of net income attributable to Company to be allocated to participating securities, which are unvested awards of share-based payments with non-forfeitable rights to receive dividends or dividend equivalents if declared. Net income attributable to the Company allocated to these participating securities was immaterial for each of the three and nine months ended September 30, 2024 and 2023, respectively.

The Company had stock options outstanding that were anti-dilutive totaling 17 million and 16 million shares for the three and nine months ended September 30, 2024, respectively, compared to 19 million shares for both the three and nine months ended September 30, 2023.